Completing the sale of the properties under those conditions required the team to modify its process and tightly coordinate all parties involved in the sale.

“It’s the same things that I’ve learned my whole career,” said Carr. “Perseverance and hard work were really critical to completing this transaction.”

Overall, Carr said, he was involved in 29 local commercial property sales in 2010, with a gross value of almost $347 million and a gross size of almost 8.7 million square feet. Among the deals was the sale of the 210,000-square-foot Cigna Pointe building in Plano, the AT&T (NYSE: T) regional headquarters in Dallas and the Lake on Post Oak in Houston.

As the year progressed, “Debt capital improved sufficiently to allow investors to compete for some good properties that came on the market,” and investors found they could take advantage of low-cost capital to put together deals with better returns.

Investors showed two distinct interests in the market last year, said Carr.

FINALISTS

Starting Year: 1984

2010 Top Score: The sale of the high-profile, luxury San Raphael apartments in the Galleria submarket for a record-low cap rate.

2010 Team Highlights: Last year our team was the No. 1 apartment sales team in the United States for our firm. Despite market conditions, our team set a record by closing more than $455 million of apartments — nearly 6,000 units — totaling 5,700,000 square feet, including assets located in every major city in Texas. Notably, two of the largest apartment assets to trade in this region in 2010 were sales handled by our City Vista and Boardwalk at Town Center. Both core assets priced at the top of the market. Finally, the addition of rising superstar Lindsay Allen to our team in 2010 gave us huge momentum in the Dallas marketplace.

Industries:

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